Wedmont Private Capital Purchases 2,364 Shares of PG&E Co. (NYSE:PCG)

Wedmont Private Capital raised its holdings in shares of PG&E Co. (NYSE:PCG) by 15.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,877 shares of the utilities provider’s stock after purchasing an additional 2,364 shares during the period. Wedmont Private Capital’s holdings in PG&E were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in PG&E by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock valued at $20,493,000 after purchasing an additional 182,279 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PG&E by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock valued at $16,639,000 after acquiring an additional 76,178 shares during the period. Crestline Management LP boosted its stake in PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after acquiring an additional 183,767 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in PG&E during the first quarter valued at approximately $2,153,000. Finally, Dai ichi Life Insurance Company Ltd increased its stake in PG&E by 379.0% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock valued at $1,379,000 after purchasing an additional 60,525 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

NYSE PCG traded up $0.09 on Tuesday, reaching $18.32. The stock had a trading volume of 7,744,979 shares, compared to its average volume of 14,153,318. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The company has a market cap of $47.91 billion, a P/E ratio of 16.35 and a beta of 1.09. The firm has a fifty day moving average of $17.90 and a two-hundred day moving average of $17.32. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.95.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.22%. PG&E’s dividend payout ratio is 3.57%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lowered their target price on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Finally, Citigroup boosted their price objective on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $20.44.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.